Session K5

Keynote Speech: Retail Electricity Markets and DER-hungry Grid Edge

Conference
9:00 AM — 10:00 AM +08
Local
Oct 27 Thu, 9:00 PM — 10:00 PM EDT

Keynote Speech: Retail Electricity Markets and DER-hungry Grid Edge

Dr. Anuradha Annaswamy, Massachusetts Institute of Technology, USA

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With increasing penetration of distributed energy resources (DERs)such as renewables, storage, and flexible loads in the distribution system, it is critical to design market structures that enable their smooth integration at the grid edge-to balance variable supply and demand, and increase the utilization of clean, renewable energy sources while maintaining affordability, reliability, and resilience. This talk focuses on the optimal design of retail local electricity market (LEM) structures to facilitate DER integration, increase market participation of DER owners, and leverage them to provide valuable grid services. The proposed LEM architecture is hierarchical in nature, and can be used to optimally schedule and coordinate DER injections across the distribution grid, via price-based market mechanisms instead of direct control or dispatch of DERs by the grid operator. The LEM can provide distribution grid services, specifically Volt-VAR control (VVC) for voltage regulation and conservation voltage reduction. It can accommodate unbalanced, multi-phase and meshed networks using Current-Injection based linear model for solving AC Optimal Power Flow at the primary level, employing McCormick envelopes convex relaxations. A distributed Proximal Atomic Coordination algorithm is used which preserves privacy, reduces communication requirements, and improves computational tractability. We also introduce 3-phase pricing, to motivate how we can determine the value of such grid services in real-time energy markets based on an optimization framework. We disaggregate the distribution locational marginal prices (d-LMP) and local retail tariffs among the different levels in the proposed LEM and decompose their components arising from economic objectives like maximizing social welfare and minimizing costs versus grid objectives like minimizing line losses and voltage profile deviations. Use case studies include modified IEEE-123 buses with high penetration of DER and realistic load profiles such as the Pecan street dataset.

Session Chair and Room

Dejan Vukobratović (University of Novi Sad, Serbia)— Room LT2

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